According to the new market research report “HVAC System Market by Heating Equipment (Heat Pumps, Furnaces), Ventilation Equipment (Air-Handling Units, Air Filters), Cooling Equipment (Unitary Air Conditioners, VRF Systems), Application, Implementation Type, and Geography – Global Forecast to 2025″, published by MarketsandMarkets™, the HVAC System Market is estimated to reach USD 277 billion by 2025 from USD 202 billion in 2020, at a CAGR of 6.5% during the forecast period.
Ask for PDF Brochure:
Heating, ventilation, and air conditioning (HVAC) is a mechanical system that provides thermal comfort and improves air quality in an enclosed space. A complete system controls air temperature & humidity, allows fresh air intake, and maintains the quality of air in residential, commercial, or industrial buildings. Heating equipment is an important part of HVAC systems. These types of equipment are used to heat buildings to a particular temperature. The ventilation process removes the unpleasant smell and excessive moisture from the air in an indoor space and introduces fresh air. Cooling systems are used to lower the temperature and enable the proper distribution of air and the control of humidification in a space.
“HVAC system market for heating equipment to grow at highest CAGR during the forecast period”
The heating equipment market is expected to grow at the highest CAGR during the forecast period. Heating equipment is an important part of HVAC systems. These types of equipment are used to heat buildings to a particular temperature. The rapid climate changes and increasing need for renewable energy sources, along with the extensive government support in the form of subsidiaries and other monetary benefits, have increased the demand for heating equipment globally.
“New constructions to hold the largest share of the global HVAC system market from 2020 to 2025.”
The governments of various countries are making heavy investments in infrastructure development, such as expansion projects of hotels, retail stores, airports, and educational buildings. Growing construction activities are driving the demand for HVAC systems to remove pollutants, maintain air quality, and control the temperature and humidity in buildings. Moreover, government regulations for smart homes and incentives for the installation of the energy-efficient HVAC system in new construction projects are expected to propel the market growth.
Browse in-depth TOC on “HVAC System Market“
84 – Tables
52 – Figures
168 – Pages
Inquiry Before Buying:
“APAC to be fastest-growing market for HVAC system during the forecast period”
The HVAC system market in APAC is expected to grow at the highest CAGR during 2020–2025. The growing construction activities and rising population are some of the factors boosting the growth of HVAC systems in the region. There is a considerable demand for smart homes in countries such as Japan, South Korea, and China. The rapid urbanization and industrialization are increasing demand for HVAC systems in the region.
Major players involved in the global HVAC system market include Daikin (Japan), Ingersoll Rand (Ireland), Johnson Controls (US), LG Electronics (South Korea), United Technologies (US), Electrolux (Sweden), Emerson (US), Honeywell (US), Lennox (US), Mitsubishi Electric (Japan), Nortek (US), and Samsung Electronics (Korea).
Related Reports :
Building Automation System Market by Communication Technology, Offering (Facilities Management Systems, Security & Access Control Systems, Fire Protection Systems, and Building Energy Management Software), Application, Region – Global Forecast to 2024
HVAC Controls Market by System (Temperature, Ventilation, Humidity, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography – Global Forecast to 2023
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.